Climate technology is still in its early stages in Central and Eastern Europe (CEE), but investment in the region is picking up.
Over the past few years, the region has seen a significant increase in investment in climate technology compared to previous years (389 million in 2021, compared with $75 million in 2020, according to Dealroom). $299 million in 2022). That’s a fraction of what investors spend across Europe, reaching a record high of $15.9 billion in 2022.
But where are the region’s new stars? Sifted asked investors in the region for their picks of upcoming CEE climate tech startups to watch, and found that they could only pick one startup from their portfolio. There was one problem that I couldn’t do. From “super batteries” to robots fixing windmills, here are nine of his companies they chose.
A Vilnius-based VC that invests in European start-ups in the sustainable energy technology and smart mobility industries. In 2022 he will launch a €100 million climate technology fund.
PVCase is a Lithuanian SaaS provider for solar power plants. Its solutions enable companies to make data-driven decisions when optimizing designs and evaluating the viability of commercial and utility-scale solar power plants.
The startup, which launched in 2018, has raised a $23 million Series A in 2021 from Lithuanian VC Practica Capital, US VC Elephant and Contrarian Ventures.
Estonian skeleton tech is working “super battery” Alternatively, ultracapacitors, a type of energy storage device that charges very quickly and releases large amounts of energy, could be a way to quickly charge EV batteries. In 2022, the company will launch solutions and announce a partnership with oil giant Shell.
Skeleton Technologies was launched in 2009, €41.3 million Series D 2020.
Aerones, the latest star of the Latvian startup scene, builds robots that help maintain and inspect wind turbines. The startup was backed by Y Combinator in 2018 and last year raised his $30 million Series A from Blume Equity in the UK alongside existing investors.
KAYA is a Czech VC that specializes in early-stage rounds from CEE and elsewhere in Europe, with a focus on healthcare, fintech and new energy. In 2021 he raised his fourth round of his $80 million funding round.
Based in Prague, Woltair is a platform that connects installation and maintenance businesses with consumers who want to install sustainable energy solutions such as heat pumps and solar panels.
in 2022 Raised €16.3 million Series A led by existing investors, plus ArcTern Ventures, Canadian VC firm Westly Group and Aternus.
SunRoof is a Polish-Swedish startup founded in 2013 by Polish serial entrepreneur Lech Kaniuk. We offer solar panels integrated into the roof. Imagine a roof made entirely of tiled black photovoltaic (PV) panels. It also provides customers with an energy management system, including storage, to monitor and manage energy production and consumption via an app.
In January, the sunroof is extended to date €15 million fund Another €13.5 million round.
Polish VC investing in Industry 4.0 and life sciences startups.
Warsaw-based Port offers last-mile delivery companies complete mobility packages, from charging stations to EVs. Port has successfully raised pilots in London and Barcelona and is currently raising a pre-seed round.
Based in Estonia, eAgronom brings economic benefits to sustainable farmers. The company’s software helps farmers measure greenhouse gas emissions data and convert it into carbon credits. This can later be turned into additional income. The company has raised $7.4 million in Series A funding in 2022, led by Estonian VC Yolo Investments and Latvian ZGI Capital.
Poland’s first impact VC, investing in companies with positive social and environmental impact. In 2022, he raised his second round of funding of PLN 100 million (€21.2 million).
ZEME is a Polish waste management startup. Digitize waste management and waste recycling processes for large enterprises. According to Dealroom, the startup has raised several seed rounds from investors including RST Ventures For Earth, a VC fund focused on climate technology in Poland.
Bankilo is a Polish app that measures your home’s electricity consumption every few seconds. This helps you plan your energy consumption better and save money on your utility bills. In 2021, the company received an investment from Sesco, a Polish electrical and mechanical manufacturer.
Zosia Wanat is a Central and Eastern Europe reporter for Sifted based in Warsaw.she tweets from @zosiawanat.